Catalyst Funds Management Pty Ltd Boosts Stock Position in TechnipFMC plc (NYSE:FTI)

Catalyst Funds Management Pty Ltd raised its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 1,353.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,700 shares of the oil and gas company's stock after acquiring an additional 37,900 shares during the quarter. Catalyst Funds Management Pty Ltd's holdings in TechnipFMC were worth $1,178,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bank Julius Baer & Co. Ltd Zurich acquired a new position in TechnipFMC in the 4th quarter valued at about $46,000. Smartleaf Asset Management LLC grew its holdings in shares of TechnipFMC by 55.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock worth $43,000 after buying an additional 525 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of TechnipFMC in the fourth quarter valued at approximately $45,000. EverSource Wealth Advisors LLC lifted its stake in shares of TechnipFMC by 393.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock valued at $49,000 after buying an additional 1,338 shares during the period. Finally, V Square Quantitative Management LLC boosted its position in TechnipFMC by 48.2% during the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock worth $50,000 after acquiring an additional 563 shares during the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In related news, EVP Justin Rounce sold 42,178 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the completion of the sale, the executive vice president now directly owns 140,207 shares of the company's stock, valued at approximately $3,722,495.85. This trade represents a 23.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David Light sold 10,147 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction of $252,660.30. Following the completion of the transaction, the chief accounting officer now owns 7,529 shares in the company, valued at $187,472.10. This represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on FTI shares. Evercore ISI boosted their price target on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, January 15th. Barclays upped their target price on TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Monday, March 3rd. The Goldman Sachs Group started coverage on TechnipFMC in a research note on Friday, December 13th. They issued a "buy" rating and a $38.00 price target on the stock. TD Cowen reiterated a "buy" rating and set a $37.00 price objective on shares of TechnipFMC in a report on Wednesday, November 27th. Finally, Piper Sandler boosted their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, TechnipFMC has a consensus rating of "Buy" and a consensus price target of $36.31.

TechnipFMC Trading Down 1.3 %

Shares of TechnipFMC stock traded down $0.36 during trading hours on Tuesday, hitting $27.86. The company's stock had a trading volume of 903,270 shares, compared to its average volume of 3,720,233. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $11.72 billion, a PE ratio of 18.32 and a beta of 1.54. The business has a fifty day moving average of $30.00 and a 200 day moving average of $28.62. TechnipFMC plc has a 1-year low of $22.99 and a 1-year high of $33.45.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC's dividend payout ratio (DPR) is presently 10.42%.

TechnipFMC Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.